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Dec 27, 2012
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cuts, but obama tax goes into effect as well. the cap gains rate will go up 58% and this is going to lose revenue rather than gain revenue just as it has in the past. similarly, the tax increase on dividends. if the bush tax cut expires, along with the obamacare tax increase, the tax rate on dividends is going to increase -- actually triple. when bush cut the tax rate on dividends, dividends pay soared and so did the taxes napad on them as a result. if you reverse that tax cut and put the obamacare tax on top, dividends are going to collapse and so are the revenues that government will collect from the dividends. you'll have a similar result as you had in 1990 where they increased rather than declined. >> clayton: do we not learn from our history? this seems like it's just repeating all over again. politicians aren't aware of their history here and what we could go through again. we know what 1991 and 1992 looked like with that recession. it was hard. >> the tax increases we're talking about now are much bigger than in 1990 and t
cuts, but obama tax goes into effect as well. the cap gains rate will go up 58% and this is going to lose revenue rather than gain revenue just as it has in the past. similarly, the tax increase on dividends. if the bush tax cut expires, along with the obamacare tax increase, the tax rate on dividends is going to increase -- actually triple. when bush cut the tax rate on dividends, dividends pay soared and so did the taxes napad on them as a result. if you reverse that tax cut and put the...
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Jan 1, 2013
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then it becomes voting against the obama tax cuts. that was the scenarios rinse were afraid of. >> steve: it looks like a republicans say it's a done deal, we'll have to raise taxes on the most successful. but we will live to fight another day. that day is when the debt ceiling comes up in a couple of months and the sequestration thing, they kicked it down -- two months! so the republicans think, okay. when we get down to the talk about spending, we're going to be big winners. >> they knew that raising taxes on the wealthy polled badly for them. that most americans were in favor of that. we're not on the winning side. they got that off the table and said, we'll win the debt fight. i say to them, well, won't the press just kill you for being the people who would drive the country to the very risk of default in favor of -- to save your spending cuts, which aren't popular in the first place. they feel they can win that fight. i'm a little skeptical. >> brian: in the big picture, if someone told that you there will be a democratic preside
then it becomes voting against the obama tax cuts. that was the scenarios rinse were afraid of. >> steve: it looks like a republicans say it's a done deal, we'll have to raise taxes on the most successful. but we will live to fight another day. that day is when the debt ceiling comes up in a couple of months and the sequestration thing, they kicked it down -- two months! so the republicans think, okay. when we get down to the talk about spending, we're going to be big winners. >>...
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Dec 24, 2012
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president obama knows this and set to expire is the bush era tax cuts . what impact will this have on the military? >> it will have an across the board impactit sequestration is so bad. we'll get across the board training to maintenance and to the next weapon system and on base things provided for families and tri-care. it hits everything. secretary panetta called it a meat axe. our readiness will be stunted by sequestration . it is bad policy. >> clayton: republicans agreed to it. you agree and say this is never going to happen. because we will get this thing done . now eight days done. is it possible to go through with a fine tooth comb and pick through. senator sessions said the fiscal cliff is like three days away. we have to read it to sign off on it. >> that's the worst. no, this is not time. let's reform it and go about it with a squaple. meet axe hacks it across the board. either we are going off of the cliff or bad short-term deal that kicks the can down the road. we need to reform quick kick in the can. >> clayton: secretary panetta, set to take
president obama knows this and set to expire is the bush era tax cuts . what impact will this have on the military? >> it will have an across the board impactit sequestration is so bad. we'll get across the board training to maintenance and to the next weapon system and on base things provided for families and tri-care. it hits everything. secretary panetta called it a meat axe. our readiness will be stunted by sequestration . it is bad policy. >> clayton: republicans agreed to it....
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Dec 28, 2012
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call them the obama tax cuts. it looks like he's the tax cutter and if you're a republican in the house, you go, wait a minute, i'm supposed to be for lower taxes. how can i vote no for lowering taxes on anybody? >> kelly: you allude to a very important point to why critics of this entire mess have gone on to say that perhaps president obama knew that he wanted to have a fiscal cliff, for example, charles krauthammer, look what he has to say. >> right up until now, obama has what he wanted, which was a partisan political success. he's been less worried fiscal solution for two reasons. number one, he does not care about debt. he hasn't in the four years. and number two, he thinks he's a political winner if we go over the cliff. he thinks he's holding all the cards. >> the real outrage is that what started as an effort to trim the size and scope of government, whether it was the bush tax cuts a decade ago or whether it was the debate over the debility ceiling just over a year ago is going to likely end up as an effo
call them the obama tax cuts. it looks like he's the tax cutter and if you're a republican in the house, you go, wait a minute, i'm supposed to be for lower taxes. how can i vote no for lowering taxes on anybody? >> kelly: you allude to a very important point to why critics of this entire mess have gone on to say that perhaps president obama knew that he wanted to have a fiscal cliff, for example, charles krauthammer, look what he has to say. >> right up until now, obama has what he...
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Dec 26, 2012
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obama care. here are a few examples of them. small business owners will see individual tax incomes. medicare payroll tax and for the first time ever the government is capping how much money you can put in your flexible spending account. there's still time to save money on your taxes. we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative minimum tax rate and you have to really run your numbers and look at 2012 or 2013. you may be a higher bracket in 2013 and may want to take the deductions in 2013 rather than 2012. >> if you want to review the 2012 taxes you say prepaid state income taxes. >> if you pay the state income taxes that may be due next april 159 you have a large capitol gains maybe you sold something you can do that. one of the things you have to keep in mind in doing all of this you have to figure out the alternative minimum tax. there are two systems
obama care. here are a few examples of them. small business owners will see individual tax incomes. medicare payroll tax and for the first time ever the government is capping how much money you can put in your flexible spending account. there's still time to save money on your taxes. we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative...
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Dec 26, 2012
12/12
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in spending cuts and tax increases. speaker boehner even had to withdraw the so-called plan b measure in the house that would raise taxes on millionaires, but keep them low for everyone else because there just wasn't enough gop support in the house. but even after all that, the speaker says this weekend he thought lawmakers could still steer us away from the fiscal cliff. >> of course, hope springs eternal. and i know we have it in us to come together and do the right thing. we'll continue to work with our colleagues and the congress and the white house on a plan that forgets families and businesses. >> we don't know if president obama will make it back to hawaii to finish his family vacation. we're told it all depends how negotiations go. back to you. >> gretchen: peter doocy live in d.c thanks very much. >> rick: are you ready for your taxes to go up? we've been talking about the fiscal cliff and we know that potential huge tax increase for us. even if they come up with a way, your taxes are going up. >> clayton: beca
in spending cuts and tax increases. speaker boehner even had to withdraw the so-called plan b measure in the house that would raise taxes on millionaires, but keep them low for everyone else because there just wasn't enough gop support in the house. but even after all that, the speaker says this weekend he thought lawmakers could still steer us away from the fiscal cliff. >> of course, hope springs eternal. and i know we have it in us to come together and do the right thing. we'll...
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Dec 30, 2012
12/12
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the wealthy and job creators. >> juliet: president obama continues to push for tax hikes on the rich. and france lost a bid to raise taxes and he want today raise to 75%. now, there weren't a lot of people he was focused on, really not that much money, he was going to raise, but the fact is he wanted the french judicial council, however, said it would have been excessive and unconstitutional. joining us-- >> sorry, dave. >> dave: and for tax foundation from the heritage foundation. >> juliet: good morning, curtis. >> good morning. >> dave: what's the deal here, the decision made is not unconstitutional, but bottom line, bad for the economy? i think we can learn from this? >> that's right, the court has bailed them out. and the tax increase, 75% rate was going to really damage the french economy. the french economy's already strugglingling and adding on the economy would be worse. >> i'm looking at it, expected to be a temporary two year measure and affect 1500 people and raise less than 661 million dollars. >> but the revenue we brought in, and what it would have done, it would have
the wealthy and job creators. >> juliet: president obama continues to push for tax hikes on the rich. and france lost a bid to raise taxes and he want today raise to 75%. now, there weren't a lot of people he was focused on, really not that much money, he was going to raise, but the fact is he wanted the french judicial council, however, said it would have been excessive and unconstitutional. joining us-- >> sorry, dave. >> dave: and for tax foundation from the heritage...
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Dec 29, 2012
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thresholds, and if they don't come up with something, again, that wedge gets driven further and obama can sit in the cat bird's seat and blame, blame, blame republicans for their obstructionism. >> dave: quickly, you think a deal gets done, a threshold say around a half million dollars, unemployment gets extended and very little cuts, is that basically what you think happens here? >> i think that's right. i think that's the basic outline and then what the house republican take away, well, we'll deal with the tough issues later, always been there. >> dave: kick the can down the road. >> move on. >> juliet: let's go to the story that we've been covering here shall the hobby lobby story, this is a faith-based business and they decided they're going to risk paying potential fines up to 1.3 million dollars a day because they're refusing to provide the morning after pill to employees, it does not go with their beliefs. what do you make of that story? >> and by the way my christmas tree came from hobby lobby and i think it's incumbent upon every conservative who believes in freedom of religi
thresholds, and if they don't come up with something, again, that wedge gets driven further and obama can sit in the cat bird's seat and blame, blame, blame republicans for their obstructionism. >> dave: quickly, you think a deal gets done, a threshold say around a half million dollars, unemployment gets extended and very little cuts, is that basically what you think happens here? >> i think that's right. i think that's the basic outline and then what the house republican take away,...